Developer Fee Compliance Application Form - Borough Of Fanwood (Page 4 of 4) in pdf

Developer Fee Compliance Application Form - Borough Of Fanwood Page 4

This Section shall expire if:

(1)

COAH dismisses or denies the Borough's petition

for substantive certification;

(2)

COAH revokes substantive certification or its

certification of this Section;

(3)

Substantive certification/judgment of repose

expires prior to the Borough filing an adopted housing element with COAH, petitioning for substantive certification

or receiving COAH's approval of this Section.

Section IX. The following definitions are added to Section 93-3

of the Borough Code:

COAH - The New Jersey Council on Affordable Housing.

DEVELOPMENT FEES - Money paid by an individual, person,

partnership, association, company or corporation for the improvement of property as permitted under COAH's rules.

EQUALIZED ASSESSED VALUE - The value of a property determined by

the Borough tax assessor through a process designed to ensure that all property in the Borough is assessed at the

same assessment ratio or ratios required by law. Estimates at the time of issuance of a building permit may be

obtained utilizing estimates for construction cost. Final equalized assessed value will be determined at project

completion by the Borough tax assessor.

JUDGMENT OF REPOSE - A judgment issued by the Superior Court of

New Jersey approving the Borough's plan to satisfy its fair share obligation.

SUBSTANTIVE CERTIFICATION - A determination by COAH approving the

Borough's housing element and fair share plan in accordance with the provision's of the Fair Housing Act and the

rules and criteria as set forth therein. A grant of substantive certification shall be valid for a period of six years in

accordance with the terms and conditions contained therein.

SECTION X. All ordinances or parts of ordinances inconsistent with this ordinance are hereby repealed.

SECTION XI. This ordinance shall take effect immediately upon final passage and publication as required

by law and upon filing with the Union County Planning Board.

Developer Fee Compliance Application Form - Borough Of Fanwood Page 4